AUDNZD Weekly Fakeout

The weekly close is near and an interesting pattern formed. Have a close look at the weekly chart to see the power of this pattern.

We now have:

Outside mother bar, No close out of the box
Classic fake breakout
Wave 5 finished on Daily/4H timeframe


Market was sold off, but quickly recovered and closed inside the box. This indicates, that the selloff was not sustainable.

I was watching AUDNZD for some weeks now, have a look at the last two analysis to see the exact predicted entry:

The last one had the 4H double bar entry signal mentioned in the text:

https://www.tradingview.com/chart/AUDNZD/fyzdtNrz-AUDNZD-Daily-Wave-Analysis/

The previous analysis made clear, that the triangle forming is wave 4 and a final push to the downside is required to finish this pattern.

https://www.tradingview.com/chart/AUDNZD/ZgSR5Yyz-AUDNZD-Daily/




Watch out next week for a good entry signal. Take advantage of the never-ending stream of opportunities in the markets.